The College of Veterinary Medicine at Iowa State has received a grant that would award the college $1 million, but in order to receive the money, the college must first raise almost five times as much.

To formally receive the money, the college will have to raise

$4.57 million by June 2008.

The challenge grant could go a long way in moving the college closer to its goal of opening the doors to its Dr. W. Eugene and Linda Lloyd Veterinary Teaching Hospital at the College of Veterinary Medicine in August 2008.

The grant was approved by the Kresge Foundation, a Detroit-based national foundation that inspires growth of nonprofit organizations.

College officials are optimistic they can successfully raise the money they need by the deadline set forth by the foundation.

“It is a challenge grant, and raising that amount of money is always a challenge,” said Thomas Ligouri, program coordinator for the veterinary medicine administration. “We think it’s a doable number.”

Ligouri said the money will come from several sources, including donations from alumni. The Kresge Foundation will also count donations made to various areas of the school – including student support, faculty, programs and facilities —- in the $4.57 million figure.

Shane Jacobson, director of development for the College of Veterinary Medicine and graduate student in educational leadership and policy studies, said news about the challenge grant has been met with excitement.

“I’m encouraged that our donors have responded favorably to the news,” Jacobson said. “There is so much excitement here in the college and a lot of momentum going forward.”

Jacobson said the grant could have far-reaching implications for the long-term success of the college.

“This will touch hundreds, if not thousands, of students and faculty in the future,” he said.

Ligouri said money from the grant would be designated for the completion of the teaching hospital, which is undergoing a major expansion and modernization.

“The grant gets us well on our way to our grand opening in 2008,” Ligouri said.

Ligouri said being selected by the Kresge Foundation is encouraging for both the College of Veterinary Medicine and Iowa State.

“It’s a very competitive process – to be approved for a Kresge Challenge Grant,” he said. “It is quite an honor.”

Jeff Spielman, senior director of development for the College of Veterinary Medicine, agreed.

“It’s a great opportunity,” Spielman said. “We feel ecstatic about it.”

Ligouri said even though the College of Veterinary Medicine hasn’t officially received the grant, it is still a step in the right direction.

“It’s always nice to have outside recognition, especially from an organization as prestigious as the Kresge Foundation,” he said.